A powerhouse team from JPMorgan Securities is departing the firm to join Wells Fargo Advisors' high-net-worth employee advisor division in the Big Apple.
Wells Fargo has welcomed the Canell Group, a 17-person team led by advisors Jay and Neil Canell to its Private Client Group in New York City.
The two have been in the industry for three decades, including stints at Morgan Stanley, Citi, and UBS, according to their BrokerCheck profiles.
In addition to the Canell brothers, the group includes advisors Justin Dembo, Jake Klarberg, Benjamin Mayo, and Daniel Zomback, as well as a dedicated support staff.
The team, which brings with them approximately $2 billion in assets under management, is part of the firm's broader push to attract established wealth management teams with significant client bases and a focus on comprehensive financial planning.
Wells Fargo Advisors is one of the largest wealth management businesses in the US, managing over $1.8 trillion in client assets with approximately 12,000 financial advisors. The firm operates through multiple channels, including its traditional brokerage model, independent advisor channel, and in-bank wealth management services.
Advisors at the Private Client Group, which sits within the traditional brokerage business, provide full-service wealth management to high-net-worth clients as employees of WFA. PCG advisors get to keep a smaller percentage of annual revenue compared to those in the independent channel, though they also gain access to the firm's extensive array of financial services, including investment management, estate planning, and retirement solutions.
In a statement, Brendan Krebs, head of advisor recruiting at Wells Fargo Advisors, expressed enthusiasm about the addition.
“We couldn’t be more excited to welcome The Canell Group to Wells Fargo Advisors. Their team has a longstanding commitment to holistically serving clients, and tapping into Wells Fargo’s robust suite of resources and capabilities will help enable them to achieve even more growth for their business.”
The Canell Group's addition builds on recent recruiting momentum at Wells Fargo, including a $1.8B Morgan Stanley team that joined FiNet, its independent advisor channel, in Chicago.
The senior recruiter position at LPL Financial can lead to future success and industry leadership.
Hackers are already probing two bugs in software that runs most of the web. European Government and other major sites have already been taken down for emergency patches.
Unclaimed auto accounts can’t take family money, so advisors face questions on 529s, divorce terms, employer funding and stock gifts.
Better Markets’ Benjamin Schiffrin says the change clears a path for interval-fund and accredited-investor rules, but won’t touch daily advisor work.
Devenir finds 52% of HSA assets are now invested, reshaping how clients can plan for retirement health care costs.
Knighthead Life entered the market with a competitive MYGA. A strong launch earned advisor confidence and paved the way for FIAs.
As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor
